Chicago, Aug. 10, 2023 (GLOBE NEWSWIRE) -- The Helicopters Market by Point of Sale, OEM-by Component & System, Type, Application (Military, Civil, and Commercial), Number of Engines (Twin Engines, Single Engines) and Geography- Global Growth Driver and Industry Forecast to 2027", The increasing demand for helicopters in Emergency Medical Services (EMS), Law Enforcement, and Oil & Gas Industries, along with the growing demand for military helicopters, are some of the key factors driving the growth of the market. Technological advancements such as the development of unmanned helicopters, hybrid-electric propulsion systems, and advanced avionics are also expected to create significant opportunities for market players during the forecast period. Factors such as high acquisition and maintenance costs, and stringent regulatory norms may hinder the growth of the Helicopters Industry to some extent.
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Helicopter Market Report Scope:
| Report Metric | Details |
| Estimated Market Size | USD 31.9 billion in 2023 |
| Projected Market Size | USD 41.2 billion by 2027 |
| Growth Rate | 6.1% |
| Forecast Period | 2022-2027 |
| On Demand Data Available | 2030 |
Top Helicopters Companies: Key Market Players
- Airbus Helicopters SAS (France),
- Bell Helicopters (US),
- The Boeing Company (US),
- Leonardo S.p.A. (Italy),
- Sirkorsky-Lockheed Martin (US),
- Russian Helicopters (Russia),
- Kawasaki Heavy Industries (Japan), among others.
“Browse in-depth TOC on "Helicopters Market Trends, Growth Drivers"
374 – Tables
49 – Figures
214 – Pages
Driver: Replacement of Aging Helicopters Fleets
Restraint: Delivery Backlogs by Major OEMs
Opportunity: Commercialization of UAM and eVTOL
Challenge: Rising Fuel Prices
The market for military helicopters is projected to grow due to the replacement of aging helicopter components and systems and capacity expansion programs in emerging economies. The development of next-generation compound and tilt helicopters is expected to contribute to a larger share of the helicopters market within the next decade and result in a significant number of helicopter replacements and capability expansions. Traditional surveillance systems are being replaced with active electronically scanned arrays on combat helicopters, owing to their ability to spread signal emissions across a wide range of frequencies. Emerging economies, such as China, India, Brazil, and South Africa, are investing in the development of electronically scanned array radar systems for combat helicopters. These countries have allocated substantial shares of their defense budgets to augment their existing defense power, which involves upgrading their helicopter fleet.
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Airbus Helicopters SAS (France), Bell Helicopter (US), and Lockheed Martin Corporation (US) are the top manufacturers of helicopters. Thus, delivery backlogs from these top players can affect the growth of the overall helicopters market. There has been a significant rise in demand for helicopters in both civil & commercial and military applications. Due to limited production capabilities, the OEMs fail to deliver the required helicopters within the expected timeline. In 2020, Bell Helicopter witnessed a backlog of USD 5.3 billion in 2020 due to an increase in helicopter backlogs. The increasing difference between the number of orders and deliveries hampers the growth of the global market. In 2019, Airbus Helicopters received 369 orders and delivered 332, resulting in a backlog of 37 helicopters.
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Urban Air Mobility (UAM) is a concept that uses the vertical take off capabilities of helicopters and combines these with upcoming electric-hybrid propulsion technologies and an autonomous flight for inter- and intra-city travel. Electric helicopters, known as electric vertical take off and landing (e-VTOL) aircraft, have the capability to take off and land from vertiports built for urban transport in cities. In addition to speeding-up urban travel, these aircraft help reduce emissions and noise. Commercialization of this concept is expected to enable passengers to share e-VTOL air services between cities and suburbs and eventually within cities.
The helicopters market faces the challenge of rising fuel prices, which leads to lower purchases. Customers tend to withhold their purchase as they may not wish to spend excessively on the operation after investing hugely in acquiring the helicopter. The rise in fuel prices results in budget issues, which adversely impact the market growth globally. High fuel prices have made the growth of the helicopters market sluggish in some countries, posing a challenge for the market.
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